证券研究报告 | 季报点评 2024 年 07 月 25 日 谷歌-A（GOOGL.O） 广告和云强劲增长，持续探索 AI 应用 谷歌 2024Q2 收入高增长。Alphabet 2024Q2 营收 847.4 亿美元，yoy+ 14%。 分业务看，谷歌服务、谷歌云、Other Bets 分别为 739.3、103.5、3.7 亿美元， yoy+11.5%/28.8%/28.1%。净利润为 236.2 亿美元，yoy+28.6%。 2024Q2 公司资本支出为 132 亿美元，公司预计全年几个季度资本支出将保持在 类似一季度 120 亿美元的水平或者更高。分红方面，本次财报谷歌宣布将向股东 派发每股 0.20 美元的现金股息。 谷歌广告表现强劲。2024Q2 谷歌广告收入 646.2 亿美元，yoy+11.1%。其中， 谷歌搜索及其他收入 485.1 亿美元、yoy+13.8%，主要受益于零售行业的增长， YouTube 广告收入为 86.6 亿美元、yoy+13%，主要受益于品牌广告和效果广告 的增长，谷歌 Network 收入为 74.4 亿美元，yoy-5.2%。 谷歌云收入首次单季度突破 100 亿美 ...

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023.Meta CEO Mark Zuckerberg has been assembling a large stockpile of Nvidia chips, spending billions of dollars so his company can develop and train advanced artificial intelligence models.But even he says the AI hype may be driving too much investment."I think that there's a meaningful chance that a lot of the companies are overbuilding now and that you look back and you' ...

证券研究报告 | 2024年07月25日 谷歌(ALPHABET)-A（GOOGL.O)24Q2 财报点评 优于大市 云增速持续提升，广告业务在宏观承压下保持稳健 业绩总览：广告业务持续加速增长，云增速恢复，利润率显著提升。① 整体：FY24Q2 公司营收 847 亿美元（同比+13.6%，CC+15%），GAAP 毛 利率 58.1%，营业利润 274 亿美元（营业利润率 32.36%）。②分业务： 谷歌服务收入 739 亿美元（同比+11.5%），营业利润率 40%，其中包括 谷歌广告收入 646 亿美元（同比+11.13%）和其他非广告业务收入 93 亿 美元（同比+14.4%）。广告收入包括谷歌搜索广告收入 485.1 亿美元（同 比+13.8%），YouTube 广告收入 86.6 亿美元（同比+13%），谷歌网络联 盟收入 74 亿美元（同比-5.2%）。谷歌云收入 103.5 亿美元（同比+28.8%、 环比+8%）；Other Bets（创新业务）收入 3.65 亿美元（同比+28.1%）。 业务重点：①广告业务在宏观经济弱化下保持整体稳健增长：广告收入 同比 11%（环比-2pcts），北美 ...

股 票 研 究 [Table_Market] 证 券 研 究 报 告 搜索与云业务增势良好，对 AI 投入乐观 ——谷歌 FY24Q2 业绩点评 | --- | |---------------------------| | 秦和平(分析师) | | 0755-23976666 | | qinheping027734@gtjas.com | | S0880523110003 | 本报告导读： 24Q2 收入利润略超预期，其中，搜索与云业务增势良好，AI 是重要的增长驱动因素。 公司对 AI 前景保持乐观，预计 2024 财年单季度 CAPEX 维持或略高于 120 亿美元。 投资要点： [Table_Summary] 盈利预测与投资建议：我们看好谷歌在 AI 领域的领先地位，调整谷 歌 FY2024E-FY2026E 营业收入为 3,495/3,830/4,148 亿美元（前值为 3,567/3,930/4,279 亿美元），上调净利润为 946/1,073/1,158 亿美元（前 值为 866/986/1,067 亿美元）。我们给予 2025 年 P/E 24X，对应目标市 值 2.58 万亿美元，上调公司 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 [Table_Market] 证 券 研 究 报 告 股 票 研 究 海 外 公 司 （ 美 国 ） [Table_PicQuote] -50% 0% 50% 100% 52周股价走势图 谷歌 纳斯达克综指 谷歌(GOOGL.US)[Table_Invest] 评级： 增持 [当前价格 Table_CurPrice] :(美元) 183.60 交易数据 | --- | --- | |-----------------------|---------------| | 52 周内股价区间(美元) | 121.26-193.31 | | 当前股本(百万股) | 12358.00 | | 当前市值(百万美元) | 2268929.00 | [Table_Report] 相关报告 《AI 加速创新，营收全面提速——谷歌 1QFY24 业绩点评》 《云业务首次盈利，AI 持续赋能增长——谷 歌 4QFY23 业绩点评》 《大模型重构 AI 手机，混合 AI 加速生成式 AI 第二阶段》 《AI ...

leventince/E+ via Getty Images Stock-Based Compensation (SBC) is a practice that originated some 75 years ago, as some companies began offering their management personnel opportunities for a stake in their employer's equity as an alternative to, or in replacement of, cash salary and wages. Remember that this was back in the day when discount brokerages didn't exist, meaning significantly fewer individuals had the means to own stocks. This article really isn't about the advantages for a company having th ...

Key TakeawaysShares of Google parent Alphabet lost ground Wednesday amid concerns about higher spending on artificial intelligence (AI) investments. Analysts were more bullish, with several raising their price targets based on Google's strengths and signs of benefits from AI.However, some warned Alphabet could still face an "uphill climb ahead" in the second half due to tougher comps and expected search and YouTube deceleration. Shares of Google parent Alphabet (GOOGL) lost ground Wednesday amid concerns ab ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tran ...

Exhibit 99.1 Alphabet Announces Second Quarter 2024 Results MOUNTAIN VIEW, Calif. – July 23, 2024 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2024. Sundar Pichai, CEO, said: "Our strong performance this quarter highlights ongoing strength in Search and momentum in Cloud. We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the ...

The recent pullback in the tech sector hasn’t left Alphabet (NASDAQ: GOOGL) stock unaffected, as it retraced by 0.87% in the previous month, and 4.03% in the previous five trading sessions.On the daily chart, the losses of 0.02% are effectively mitigated by the pre-market gains of 1.39%, setting the GOOGL stock price at $180.13, at the time of publication.GOOGL stock 24-hour price chart. Source: Google Finance And with second-quarter earnings scheduled for release on July 23 after the markets close, GOOGL s ...